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Overall property supply is down, but one region has bucked the trend

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05/12/2018
The supply of new property listings has risen in the North West, but the national picture is mixed
Overall property supply is down, but one region has bucked the trend

Sellers in the North West are shrugging off Brexit woes and putting their homes on the market, according to figures from HouseSimple.

The online estate agent found that many towns and cities across the region saw an uplift in new listings in November compared to October.

In fact, the five towns and cities which saw the biggest rise in new stock levels last month were all in the North West, with supply up more than a third (34.7%) in Bootle, 16.2% in St Helens and 15.4% in Carlisle.

Drop in supply

But the region bucked the national trend, as there was a significant 25.4% fall in the number of homes put on the market across the UK in November, and a massive 33.8% drop in supply in London, compared to October.

New property listings in November were down across nine out of 10 (88%) of the 100 plus towns and cities analysed.

Sam Mitchell, CEO of HouseSimple.com, said: “Despite all the political turmoil, the property market is actually holding up admirably, in no small part because of the buoyant micro markets in the north of England, particularly the North West and Yorkshire, where we are seeing healthy transaction levels.

“Although the London market has seen buyer and seller activity cooling, those sellers who are willing to negotiate on price are securing a sale. The message for homeowners is that the housing market is still open for business and there are plenty of motivated buyers out there.”

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